High risk merchant account card not present in 2019. This is a popular subject as more countries open up to new services. High-risk merchant accounts are a collection of finance services that offers firms to receive card payments from customers. Credit card processors assign merchants to one of two categories: high risk or low (normal) risk, based on a number of factors. High-risk merchants face reduced choices in processors, plus higher fees and strong binding contracts. Being named as high-risk sounds bad. But in some scenarios, it can be your best option. We have been discussing about multiple points of view of the high-risk merchant account business for many years and have almost sure touched on most, if not all, of the most important issues. Here are some more guides on high risk merchant accounts.
High risk credit card processor : PaymentCloud serves a range of business types–including high-risk merchants–with a reported 98% approval rate for new merchants. Pricing is based on business history, and the company has no application or account setup fee.
A lot of financial service providers do business exclusively with low-risk businesses, who they consider as a safer investment. That means businesses considered high-risk will have a very poorr selection of potential processors to choose from. Any processor you approach will take a careful, detailed look at your business to determine if you fall under their definition of “high risk,” based on the financial risk your company represents. It’s practically not possible for online shopping merchants to do their business without receiving payments from credit or debit cards. Before you can accept “plastic,” you need a payment service provider who acts as a link between you, banks, and credit card networks. See extra info on High risk travel merchant account.
Instabill was one of the better high risk merchant account providers we came across in our search. Their customer support agents were very clear and forthcoming with information. One thing to note is that Instabill is not cheap. For example, a Tech Support business would need to pay 4.95% + 0.25 plus the interchange fee for every transaction. That is significantly more than what non-high risk merchants charge, and even slightly higher than other companies on this list. However, this is unavoidable in high-risk industries. The reason we were pleased with Instabill’s offer was due to how easy it was to get pricing information in the first place – something that can’t be said for a lot of their competitors. Instabill does not post any of their prices online, since the cost will be highly dependent on the industry and bank involved in setting up the merchant account. However, you can get a quote by speaking with a sales representative and obtain a quote very quickly.
We worked with all of the high risk credit card processors, to be able to compare and a very good choice is iPayTotal. They cover all business types, have a large experience in the field, fast customer support and low fees.
iPayTotal can help you in understanding and create your high-risk merchant account and guide you through the underwriting procedure followed by the bank while onboarding an application. Regardless of whether you require a start-up merchant solution, a subscription account, a pharmacy merchant account, a travel merchant account or set up an offshore merchant account, iPayTotal can help you set up with lowest rates and no hassles for your high-risk businesses. Source: https://ipaytotal.com/ipaytotal-high-risk-merchant-account/.